Fannie Mae said the new Uniform Residential Appraisal Report will depend on six new property characteristics data points to let users know what information to provide.
Naa Awaa Tagoe, deputy director for housing mission and goals at FHFA, waded through some of the agency’s most recent controversies at the MBA’s secondary market conference.
Many trade groups denounced Freddie’s plan to buy second liens, saying key details were lacking. There are also concerns that Freddie’s effort will simply cannibalize an otherwise healthy and liquid non-agency market for second liens.
Fannie Mae and Freddie Mac this week announced enhancements to their flex modification programs. The primary aim is to ensure that modifications result in a 20% reduction in P&I payments.
A new advisory bulletin from the FHFA will require the GSEs to come up with comprehensive, actionable plans to deal with the impacts of climate change on housing finance.
The Financial Stability Oversight Council last week endorsed FHFA’s years-long request for prudential regulatory authority over nonbank mortgage servicers.
A coalition of trade groups has told FHFA that they can’t accurately compare new credit scores with old ones unless they have data going back prior to the financial crisis.
Among the questions raised is should FHFA continue to focus on how much liquidity FHLBanks provide for housing and community development or are there other components to FHLBank operations that deserve more attention.
FHFA and the Mortgage Bankers Association have asked legislators to exempt Fannie Mae and Freddie Mac from new laws governing the use of automated underwriting systems and other artificial intelligence tools.
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